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Mortgage Market Update
My Mortgage Company
Jeremy Marks
Friday, November 6, 2026
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Which type of mortgage is right for you? |
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Not every homebuyer qualifies for the same mortgage, and not every mortgage is the right fit for every homeowner. Here's what you need to know about your options.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Loan Programs
Not all mortgages work the same way
One of the biggest decisions you'll make isn't about the rate—it's about the loan type itself. Fixed-rate mortgages lock in one payment for the life of the loan, giving you total predictability. Adjustable-rate mortgages start lower but can change over time. Jumbo loans, FHA loans, VA loans—each one has different rules about down payments, credit requirements, and what you can borrow. The right choice depends on your timeline, risk comfort, and how long you plan to stay in your home. Understanding which program fits your situation is just as important as shopping rates. I'd love to walk you through your options and explain how each one works for your specific goals. Let's talk about which loan program makes sense for you.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Jeremy Marks
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